Payment Plans

Payment Plans

Introduction and Overview

The Payment Plans function in aXcelerate enables you to create a payment plan incorporating the payment stream ('rules') that the Student (or Employer or Other contributor) will pay for the course Tuition Fees. With this function you can setup/specify the following:

  1. Payment plan name: e.g. "10 Easy payments over 10 months"
  2. Payment plan Minimum Total amount: e.g. $3,000.00; the minimum total is required so that if the course tuition fees at the student enrolment level are accidentially set to, say, $2,500.00 but a $3,000.00 payment plan is selected (that is, 10 x payments of $300.00 each month for 10 months), then aXcelerate will display a warning message to let the user know that the payment plan selected will not work with the tuition fee set. NOTE: It is alright to have an all-up fee that is greater than the minimum total set for the payment plan, say, $3,210.00 but not lower. When the all-up fee is greater than the set minimum total, aXcelerate will allocate the plan payments evenly for all payments except for the final payment. In the example given, there would be 9 payments of $300.00 and one payment displayed as the final payment of $510.00.
  3. Payment plan description: e.g. This payment plan is used for all fee for service enrolments for Certificate IV qualifications
  4. Payment plan rules: These are the rules for each payment required as part of the payment stream; All payments in the stream have to be set up separately; Therefore, if there are 20 payments required, you will need to create 20 payment rules; These rule options are provided below:
    1. Upon enrolment - The payment amount will be set to the date of the enrolment.
    2. Upon program start date - The payment amount will be set to the commencement date of the program.
    3. A number of days after the start date - The payment amount will be set to 'x' number of days after the commencement date of the program. For example, if the commencement date of the program was the 1st of June, and the number of days was set to '20', aXcelerate would calculated this payment to 21st June; NOTE: When this option is selected, an additional field will appear on the payment plan rule form called 'Number' which is where you enter the number of days after the commencement date.
    4. A number of weeks after the start date - Same function as above but weeks, not days.
    5. A number of months after the start date - Same function as above but months, not weeks.
    6. After half way through the program - aXcelerate will calculate this payment to be due once the student has completed a minimum of 50% of their enrolled subjects. For example, if the student was enrolled in 10 subjects, then after completion of the 5th subject, aXcelerate would display in the Finance Summary section on the Enrolment page that a payment was due based on the amount specified for that payment plan rule. If the student was enrolled in 11 subjects, then after completion of the 6th subject, aXcelerate would display the next payment due.
    7. At the completion of the program - The payment amount will be set to the actual completion date of the program.
    8. At the completion of a number of subjects - The payment amount will be set to 'x' number of subjects that need to be completed before the next payment is due. NOTE: When this option is selected, an additional field will appear on the payment plan rule form called 'Number' which is where you enter the number of subjects that will need to be completed before the next payment in the payment plan is due.
    9. Upon subject start date - The payment amount will be triggered each time the student commences a new subject. For example, if a student was enrolled in 12 subjects and the second subject commenced on the 16th of May, then on that date, aXcelerate will display the amount due on 16/05/YYYY.
    10. Upon subject end date - Same as above but triggered on the subject end date.
    11. A number of days from nowThe payment amount will be set to 'x' number of days from when the payment plan was set against the student's enrolment ('today's date' or 'now'), regardless of what the enrolment or commencement date of the program is.

Important considerations and logic of the Payment Plan function:

  • Payment plans can only be created for Programs (Qualifications) not Workshops;
  • Payment plans can be set for the Student Contribution Tuition Fee/Plan or Employer Contribution Tuition Fee/Plan and/or Other Contribution Tuition Fee/Plan;
  • Customised payment plans can be created for a student where the payment plan is different to regular payment rules or additional items need to be added and invoiced at a later date. For more info, see Custom Payment Plans.
  • If a Finance Model is applied to the Student's enrolment, the Tuition Fee for ANY contributor will be set by the Finance Model;
  • If a Finance Model applied to a Student's enrolment includes additional Items (extra non-tuition fees), these fees are NOT calculated as part of the Payment Plan, only the Tuition Fee; The additional Items (if any) would need to be added into the initial invoice of the payment plan stream and then the remainder of the payments would be for the balance of the Tuition Fee. See the example below:

  • aXcelerate will automatically pre-select/pre-tick any additional Items (e.g. Materials fee and Enrolment fee above) along with the first payment installment for Tuition Fees on the first invoice; All subsequent payments will be for Tuition Fees only; The screen shot below illustrates how the initial invoice would be generated:

    Once the initial installment invoice has been generated with the Tuition Fee (Enrolment fee) and additional Items, the resulting Finance Summary on the Student's enrolment page would display as follows:

  • When each payment is due/overdue, it will display in red (as shown above); NOTE: The additional items which are part of the initial invoice display BELOW the payment plan amounts to keep the Tuition Fee payments sequenced one underneath each other.
  • When generating a Tax Invoice template which includes the Payment Plan schedule sub-table, this Tax Invoice template MUST be launched from the Finance Details section using the  Templates icon as this is the only way that the aXcelerate logic can detect a Payment Plan is attached to the enrolment. This is what the resulting Tax Invoice with Payment Plan schedule should display as if set up correctly:

Payment Plan setup (Finance → Payment Plans)

This page enables you to create or update Payment Plans. Payment plans enable you to set up a schedule of payments. This page also enables you to create payment terms to be used in your invoice templates. These are to describe details of the payment. For example, "To be paid in 7 days", "Payment has to be made within 21 days" or "Payment has to be made immediately".  NOTE: If you wish to use this feature but it does not appear in your setting, please contact aXcelerate support to turn on this feature.

Basic Steps

  1. Choose Finance > Payment Plans

  2. The Payment Plans page will be displayed

Add Payment Plan

  1. Complete the Basic Steps above.

  2. Click the Create a New Payment Plan link. 

  3. Populate fields in each section of the Payment Plan Details form. For more information, see Notes For Specific Fields.

  4. Click Submit

  5. When entering a payment plan you will be prompted to set up the first payment rule, fill in the Payment Plan Rule form, for more information, see Notes For Specific Fields.
  6. The entered plan will appear in its own Payment Plan table with the columns Payment Plan, Description, Rules, and Minimum Total.

  Set Up Payment Rule

  1. Follow Basic Steps

  2. Click  next to the desired payment plan to add a new rule. 
  3. Fill in the Payment Plan Rule form, for more information, see Notes For Specific Fields.
  4. Click Submit
  5. You then return to the Payment Plan table.

Notes For Specific Fields

Field Name
Field Notes
Payment Plan table
UpdateTo update a plan, click the  icon.
DeleteTo delete a plan, click the  icon.
Add a RuleTo add a rule to the plan, click the  icon.
Payment Plan Details Form
NameEnter the name of the Plan.
Minimum TotalYou must enter the minimum total for the payment plan. An enrolment total fee can exceed the minimum total.

For fees which exceed the minimum the outstanding amount will be included in the last payment. 
DescriptionEnter the description as desired.
 Payment Plan Rule form
AmountEnter the amount that is to be paid as part of this payment plan rule. Use the radio dial to select whether the amount is a dollar value or a percentage. NOTE: If setting amounts based on dollar values, the aggregate dollars of all rules associated with the payment plan must be equal to the Minimum Total set. If setting amounts based on a percentage value, the total percentage across all rules set up must equal 100.
TypeSelect a Type of rule from the drop-down menu to indicate when the payment is scheduled to be made. Payments will be scheduled based on dates for each individual student's enrolment dates. These dates are linked to dates shown and set on the Program Subject Status & Enrolment page.
NumberThis box will appear if you have selected a Type of rule above which requires a number of days, weeks or months to fulfil this rule. Enter a number into this box.
DescriptionEnter a description for the rule as desired.
Rule OrderSelect the desired order for the rule within the payment plan.